Jackie Stewart is the executive editor of American Banker Magazine. Previously, she covered breaking news, community banks and mergers and acquisitions for American Banker before being named as the managing editor of the Credit Union Journal. After graduating from Northwestern University in 2006, Jackie taught for two years in the Bronx, N.Y., through Teach for America.
Zions Bancorp. in Salt Lake City reported increased quarterly earnings that reflected higher net interest income.
Some are looking at buying banks or counting on recently announced acquisitions to diversify revenue streams. Others are investing in fee-based businesses and new technologies and all, of course, are trying to keep a lid on expenses.
KeyCorp in Cleveland reported lower quarterly profit as expenses tied to its pending purchase of First Niagara Financial Group cut into its earnings.
BancorpSouth in Tupelo, Miss., posted lower earnings, in part because of costs from a possible settlement of allegations related to its fair-lending practices.
Profits barely budged at Umpqua Holdings in Portland, Ore., even though it recorded strong consumer and other loan growth last quarter.
Competitive pricing and softening demand at the high end of the apartment- and condo-building market had executives at BankUnited, Signature and New York Community answering tough questions about their growth projections and diversification strategies.
Recent steps by New York Community Bancorp to lower its borrowing costs paid off last quarter in higher net interest income and profits.
Several small and midsize banks generated large year-over-year loan growth despite a belief by some outsiders that a slowdown was looming. Bankers may have to spend coming months assuring investors that they can keep booking loans while adequately managing risk.
Synovus Financial in Columbus, Ga., reported lower quarterly earnings as salaries and personnel expenses increased.
The banking industry, in the face of prolonged challenges, is relying on professional help to improve in areas such as productivity, hiring and M&A. The hope is that being introspective now will limit the amount of costly mistakes in the future.